Occidental Petroleum Co. (NYSE:OXY) Shares Sold by Sarasin & Partners LLP

Sarasin & Partners LLP lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 78.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,010 shares of the oil and gas producer’s stock after selling 781,511 shares during the quarter. Sarasin & Partners LLP’s holdings in Occidental Petroleum were worth $10,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer’s stock valued at $3,365,992,000 after acquiring an additional 10,434,098 shares during the last quarter. Berkshire Hathaway Inc boosted its holdings in Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer’s stock worth $13,053,055,000 after purchasing an additional 8,896,890 shares during the period. Worldquant Millennium Advisors LLC increased its stake in Occidental Petroleum by 1,075.3% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer’s stock valued at $95,400,000 after purchasing an additional 1,766,491 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Occidental Petroleum by 48.1% during the fourth quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer’s stock worth $203,459,000 after purchasing an additional 1,337,728 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Occidental Petroleum by 25.2% in the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer’s stock worth $314,133,000 after buying an additional 1,278,389 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

NYSE OXY opened at $43.23 on Tuesday. Occidental Petroleum Co. has a 1 year low of $34.79 and a 1 year high of $64.76. The company has a fifty day simple moving average of $40.64 and a 200 day simple moving average of $45.94. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market cap of $42.55 billion, a P/E ratio of 17.72 and a beta of 0.87.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The firm had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, sell-side analysts predict that Occidental Petroleum Co. will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 39.02%.

Analysts Set New Price Targets

OXY has been the topic of several analyst reports. Susquehanna dropped their target price on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on shares of Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Scotiabank downgraded shares of Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 price objective on the stock. in a research report on Friday, April 11th. Piper Sandler decreased their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Finally, Citigroup lifted their price target on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.14.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.